10 things you need to know before the opening bell

SUMMARY

Indian shares are likely to open lower after US President Donald Trump said he intends to endIndia's preferential trade treatment under the GSP program. Asian shares also fell after China cut its economic growth target. At 07:06 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.22 percent at 10,823.50, indicating a weak start for the Sensex and the Nifty.

By CNBC-TV18Mar 5, 2019 7:24:18 AM IST (Updated)

1. Asia: Australian shares dropped 0.6 percent while South Korea's Kospi lost 0.5 percent. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent and Japan's Nikkei dropped 0.3 percent.

2. US: The Dow Jones Industrial Average fell 206.67 points, or 0.79 percent, to 25,819.65, the S&P 500 lost 10.88 points, or 0.39 percent, to 2,792.81 and the Nasdaq Composite dropped 17.79 points, or 0.23 percent, to 7,577.57.

3. Markets At Close On Friday: Indian shares ended higher on Friday, boosted by financials, as investors pumped in money into equities amid hopes that tensions with Pakistan were easing. The Sensex closed 0.54 percent up at 36,063.81 and the Nifty 50 ended 0.67 percent higher at 10,863.50. Inidan markets were closed on Monday on account Mahashivratri

4. Crude Prices:US WTI crude oil futures were at $56.46 per barrel at 0136 GMT, down 13 cents, or 0.2 percent, from their last settlement. Brent crude futures were at $65.60 per barrel, down 7 cents, or 0.1 percent.

5. Rupee: The rupee closed at 70.91, down by 18 paise against the dollar on Friday.

6. Dollar: In currency markets, the dollar held an upper hand against many of its rivals as other major central banks are seen tilting to a more dovish stance than the Federal Reserve. The dollar traded at 111.75 yen, off a 10-week high of 112.08 on Friday.

7. FIIs& DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 198 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 117 crore on March 1.

8. US-India Trade Talks:US President Donald Trump said on Monday he intends to endIndia's preferential trade treatment under a program that allows $5.6 billion worth ofIndian exports to enter the United States duty-free. "I am providing notice of my intent to terminate the designation ofIndiaas a beneficiary developing country under the Generalized System of Preferences (GSP) program," Trump said in a letter to congressional leaders.

9. US-China Trade Talks: US Secretary of State Mike Pompeo said on Monday he thought the United States and China were "on the cusp" of a deal to end their trade war, adding to positive signs about negotiations from both sides of the Pacific. Pompeo, in a series of interviews with Iowa radio and television stations, said he hoped a deal could be agreed in coming weeks to make trade between the world's two largest economies fairer and eliminate China's retaliatory tariffs on Iowa farm commodities such as soybeans.

10. Brexit Talks: Senior European Union and British officials were set to hold more Brexit talks less than a month before the United Kingdom is scheduled to leave the bloc, as UK officials denied Monday that attempts to seal a divorce deal are deadlocked. EU and UK officials said the bloc's chief negotiator, Michel Barnier, will meet UK Brexit Secretary Stephen Barclay and Attorney General Geoffrey Cox on Tuesday.